using the balance sheet, calculate xyz companys liabilities. xyz company - balance sheet assets liabilities…

using the balance sheet, calculate xyz companys liabilities. xyz company - balance sheet assets liabilities cash $34,000 notes $31,000 inventory $23,000 wages $42,000 property $98,000 owners equity stock $45,000 investment $37,000 liabilities = $?

using the balance sheet, calculate xyz companys liabilities. xyz company - balance sheet assets liabilities cash $34,000 notes $31,000 inventory $23,000 wages $42,000 property $98,000 owners equity stock $45,000 investment $37,000 liabilities = $?

Answer

Explanation:

Step1: Identify liability items

Liabilities are Notes and Wages.

Step2: Sum up liability amounts

$31000 + 42000$

Answer:

$73000$